Niagara Falls, NY Cost Of Living

Niagara Falls cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
Index	Niagara Falls	New York	National
Cost of living index	84	119	100
Index	Niagara Falls	New York	National
Goods & Services index	98	109	100
Groceries index	97	108	100
Health care index	86	99	100
Housing index	47	145	100
Transportation index	103	108	100
Utilities index	109	102	100

The above illustration supplies generalized information for the Niagara Falls, NY cost of living index. Compared to other cities in New York and cities across the country, the cost of living index in Niagara Falls, NY is 84, which is 30% lower than the New York average and 16% lower than that for the entire country. The index is comprised of the following criteria: cost of retail goods and services (33%), groceries (13%), health care (5%), housing (30%), cost of public/private transportation (9%) and utilities (10%). Everyday goods and services, along with housing account for 63 percent of the total cost of living index. Goods and services that are a necessity regardless of location provide an accurate general sense of the cost of living in one city versus another. As seen above, the cost of retail goods and services in Niagara Falls, NY are 10% lower than the average for New York and 2% lower than the rest of the country.

Did you know?

The cost of living in Niagara Falls is 30% lower than the New York average.
The cost of living in Niagara Falls is 16% lower than the national average.
The cost of housing in Niagara Falls is 53% lower than the national average.
New York general sales tax is 21% lower than the national average.
New York state income tax is 80% higher than the national average.

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Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

Use the salary calculator to compare your current salary in Niagara Falls, NY to any other city. The salary calculator will tell you how much you would need to earn in any given city to maintain the same standard of living based on the cost of living in each city. For example, if the cost of living in the city you are looking to relocate to is higher than the cost of living in Niagara Falls, NY, then you would need to earn more income in order to maintain the same standard of living. To use the Niagara Falls, NY salary calculator, simply enter in the name of the new city, then adjust the slider to your current income. The salary calculator will do the rest and let you know if you need to earn more or less in the new city. You will also see a complete breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$48,700	$4,058	$1,136	$1,461
Renters	$19,796	$1,650	$462	$594

One can approximate the cost of living and the housing affordability in Niagara Falls, NY by the percentage of a person’s income that he or she spends on the monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side and keep one’s head above the water, a consumer should never spend more than 28 percent of his or her gross income on housing-related expenses and costs and not more than 36 percent of income on all expenses and debts. Homeowners in Niagara Falls, NY have a median income of $48,700. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,136 per month to avoid calamity and poverty. The renters in the city have an income of about $19,796, which would make their monthly maximum allowable rental costs $462.

New York Sales Tax

State	General Sales Tax	With Max Surtax
New York	4%	8.875%

New York Income Tax

State	Income Tax (Low)	Income Tax (High)
New York	4%	8.82%

When assessing the complete cost of living in Niagara Falls, NY, the New York income tax and the New York sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The New York maximum surtax is 8.875%, and the New York sales tax is 4%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 4% to 8.82% in New York.

Goods & Services

Item	Niagara Falls	National avg.	Difference
Haircut	$15.88	$16.09	1.3%
Beauty Salon	$37.27	$37.33	0.2%
Toothpaste	$1.68	$2.45	31.5%
Shampoo	$0.89	$1.00	11.4%
Movie	$10.92	$10.28	6.2%
Bowling	$3.71	$4.93	24.8%

Groceries

Item	Niagara Falls	National avg.	Difference
Ground Beef	$3.36	$3.80	11.7%
Fried Chicken	$1.23	$1.40	11.9%
Milk	$1.95	$2.01	2.9%
Potatoes	$2.87	$3.01	4.6%
Pizza	$10.66	$9.89	7.8%
Beer	$8.86	$8.90	0.5%

Health Care

Item	Niagara Falls	National avg.	Difference
Optometrist	$60.23	$102.16	41.0%
Doctor	$86.67	$108.36	20.0%
Dentist	$78.97	$92.53	14.6%
Ibuprofen	$8.50	$9.28	8.4%
Lipitor	$418.39	$425.82	1.7%

Housing

Item	Niagara Falls	National avg.	Difference
Home Price	$69,200.00	$184,700.00	62.5%
Avg. Mortgage Payment	$1,359.27	$1,202.44	13.0%
Apartment Rent	$648.00	$949.00	31.7%

Transportation

Item	Niagara Falls	National avg.	Difference
Gasoline	$2.36	$2.24	4.9%
Tire Balancing	$45.30	$46.29	2.1%

Utilities

Item	Niagara Falls	National avg.	Difference
All Electricity	$151.54	$165.96	8.7%
Phone	$37.33	$28.68	30.1%

Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, State	Population	Cost of Living Index	National Avg.
Sloan, NY	3,606	84	-16%
Buffalo, NY	258,989	85	-15%
Tonawanda city, NY	14,991	87	-13%
North Tonawanda, NY	30,935	88	-12%
Cheektowaga, NY	74,673	88	-12%
Niagara Falls, NY	49,180	84	-16%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Harrisburg, PA	49,160	88	-12%
La Mirada, CA	49,130	145	45%
Methuen Town, MA	49,043	125	25%
Rancho Santa Margarita, CA	49,038	161	61%
Severn, MD	49,017	126	26%
Niagara Falls, NY	49,180	84	-16%

Source: The Niagara Falls, NY cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.

Niagara Falls, NY Cost of Living